MQS Management LLC Acquires Shares of 7,884 Brighthouse Financial, Inc. (NASDAQ:BHF)

MQS Management LLC acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 7,884 shares of the company’s stock, valued at approximately $406,000.

Several other large investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Brighthouse Financial by 39.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company’s stock valued at $4,359,000 after purchasing an additional 23,922 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Brighthouse Financial by 138.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 34,436 shares of the company’s stock valued at $1,822,000 after purchasing an additional 20,015 shares during the last quarter. Algebris UK Ltd purchased a new position in shares of Brighthouse Financial during the first quarter valued at approximately $6,938,000. Quantbot Technologies LP purchased a new position in shares of Brighthouse Financial during the first quarter valued at approximately $2,278,000. Finally, UBS Group AG lifted its holdings in shares of Brighthouse Financial by 4.5% during the fourth quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after purchasing an additional 45,938 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BHF shares. Piper Sandler lowered their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Evercore ISI decreased their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Wells Fargo & Company decreased their price objective on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Jefferies Financial Group boosted their price objective on shares of Brighthouse Financial from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $51.56.

Brighthouse Financial Stock Performance

BHF traded up $0.55 during mid-day trading on Thursday, reaching $48.21. 379,818 shares of the company traded hands, compared to its average volume of 447,397. The stock has a market capitalization of $2.99 billion, a P/E ratio of -2.53 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average price is $44.42 and its 200-day moving average price is $47.53. Brighthouse Financial, Inc. has a 52-week low of $40.24 and a 52-week high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $2.86 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Brighthouse Financial, Inc. will post 15.01 EPS for the current year.

Insider Activity

In other Brighthouse Financial news, Director Michael J. Inserra acquired 2,500 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $43.20 per share, with a total value of $108,000.00. Following the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $237,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Inserra bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $43.20 per share, with a total value of $108,000.00. Following the acquisition, the director now directly owns 5,500 shares in the company, valued at approximately $237,600. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

About Brighthouse Financial

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.